A U.S. investigation of possible insider trading at SAC
Capital Advisors LP, the $14 billion hedge fund run by Steven A. Cohen, is
linked to a 2010 regulatory lawsuit over allegedly illegal trades in InterMune
Inc., a person with knowledge of the
matter told the good folks at Bloomberg.
The FBI and the Securities and Exchange Commission’s probe
of trades that SAC Capital made in the Brisbane, California-based
biopharmaceutical company is tied to a December 2010 SEC lawsuit against an
investor, said the person, who asked not to be named because the matter isn’t
public. The investor bought InterMune options before a European Union
regulatory panel urged approval of the company’s drug Esbriet to treat a fatal
lung disease, the person said, declining to elaborate….
Wait, wait…there/s more good stuff at http://www.bloomberg.com/news/2012-12-12/u-s-probe-of-sac-trading-said-to-be-linked-to-2010-case.html
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